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Sagot :
The amount of money she should save each month is $254.22.
How much should she save each month?
The formula that can be used to determine the amount of money she should save each month is: future value / annuity factor.
Annuity factor = {[(1+r)^n] - 1} / r
Where:
- n = number of years = 3 x 12 = 36
- r = interest rate = 6%/12 = 0.5%
(1.005^36) - 1 / 0.005 = 39,336105
10,000 / 39,336105 = $254.22
To learn more about annuities, please check: https://brainly.com/question/24108530
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